Highly skilled data analysts are among the world’s most famous professionals. Data analysts command huge salaries and excellent returns even at entry-level because demand is high, and people can accomplish this job well.
You may find data analyst roles in a wide range of enterprises and industries. To analyze data, any organization that uses data requires data analysts.
Working as a data analyst can be challenging to obtain and analyze informative data from vast data collections. In several specialized fields, data analysts can work. This post addresses how much data analysts will earn and the job outlook of a data analyst.
Future scope of Data Analyst
With Big Data growing in influence, businesses move toward data processing to increase profitability. The demand for data professionals is vital, especially those having Data Analytics certification from reputed institutions. Employment in Data Analysts is expected to rise by 20 percent between 2018 and 2028. This promising job outlook for data analysts reflects the growing need for better market analysis across various industries.
Factors affecting Data Analyst salary in India
Multiple factors can affect the data analyst’s salary in India. See some factors affecting salary range primarily:
- Experience: Data analytics will boost your earnings, which far exceeds the average $47,000 for a full-time employee in the USA; however, based on years of experience, it is subjective from one company to another.
According to Zippia, the average enterprise/data analyst salary for two years of bachelor’s experience is $54,000, which can be increased to $70,000 for two to four years in the U.S. A senior analyst with six years’ experience usually receives around $88,000 more. Still, with specific expertise, the salary will increase to up to $100,000.
Look how the salary of the data analyst in India varies with experience.
- Entry-Level – ₹325,616
- Mid-level – ₹635,379
- Experienced – ₹852,516
- Industries: Data analytics are now the backbone of every business. As a result, data analysts’ number of choice methods have increased since they add a great deal of value and increase industry to advance steadily in the respective genres.
This advancement will directly affect the data analysts’ salaries. Data analysis tools such as Excel, Tableau, and SQL are directly responsible for some of the organization’s decision-making processes. The salaries at the entry-level will be between $54,700 and $69,000.
Similarly, data analysts handle hospitals’ analytics to simplify the healthcare industry’s day-to-day management workflow and processes. These people’s salaries can vary from $46,000 to $80,000 and may also be subject to industry or stream requirements.
- Location: Bangalore has the highest number of job openings and an annual salary for Indian data analysts. In India, Silicon Valley provides 19.2 percent higher than the average salary. In comparison to the national average, Gurgaon & Pune offer 9.8% and 9.5%, respectively. Data analysts from Mumbai, Hyderabad, and New Delhi earn over 5.2%, 4.8%, and 2.8% lesser than the national average. The salary of the data analyst in the United States is $66,000. Data analyst’s salary in Great Britain is £26,000.
- Company: Employers such as Accenture, Tata consulting, and Ernst & Young (E.Y.) are leading respondents for the Data Analyst titles. However, the salaries listed for HSBC are higher with an average salary of Rs. 6,83,000.
- Skills: To obtain a high-paid career, you should know the respective languages and applications used for data management and beyond the Master’s qualifications. Further skill insights:
- Python is itself an essential skill. In India alone, the Python salary provides a total of Rs. 10 lac per year.
- Data analysts’ compensation in India is up 26 percent compared with just one region when you are familiar with Big Data & Data Science.
- SPSS experts will earn around 7.3 lakhs, where SAS experts earn between 9 and 10.8 lakhs.
- The salary of Indian Machine Learning jobs will grow by up to 17 lakhs per year. It is one of the best you can get in this sector when you study ML and Python.
How to boost a Data Analyst salary?
Data analysts should take the following steps to raise their salaries:
1. Develop new skills: Data analysts need to keep abreast of emerging market tendencies and constantly refresh their working skills on demand. R & Python programming and experience will improve overall efficiency with Microsoft SQL Server, Oracle, and IBM DB2 databases. It can also allow them to demand a higher salary.
2. Obtain an advanced degree or certification: A bachelor’s degree is necessary for different disciplines as a data analyst for an entry-level position. A Master’s degree or Ph.D. would also require more advanced and high-pay jobs. Data analysts may also benefit from an online certification in data analysis or participation in boot camps for data analysis.
3. Get professional experience: Applicants can also have experience of at least three years. It allows you to take internships and acquire project-oriented skills and hands-on knowledge to get the requisite working experience.
4. Work on private projects: Working in data processing for freelancers/personal projects will help raise salaries or find a better workplace. Such projects reflect initiative and give employers a deeper insight into the data analyst’s talents and abilities.
5. Choose a career-wise branch: Working as a Data Analyst does not lead to higher earnings. Data analysts should consider linking them to similar branches of demand and well-paid jobs, such as data science and data engineering. Both roles include programming knowledge.
Data analysis opportunities are now at the forefront of India. With large data volumes generated by companies and the availability of data and resources for extracting them, they desire to gain insight. Your salary’s authentic influencer is your talents, knowledge, and how fast you can develop and grow the business.
You will most likely get a yearly bump in your salaries of around 15 percent. Over the years of experience and the number of skills you have learned, this will increase more. If starting from scratch or already have experience in the data field, you will always have this motivating factor in your career.